USD/CNH has struggled to overcome crucial graphical hurdle of 7.37 representing highs of 2022/2023, BBH FX analysts report.
Short-term price action can remain constricted
“A brief pullback is taking shape after this test. The pair has failed to defend the 50-DMA denoting lack of steady upward momentum. Recent pivot low of 7.24/7.23 is an important support zone. Short-term price action could remain constricted within limits of 7.24/7.23 and 7.37; a break beyond one of these bands would be crucial for confirming a directional move.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Related Articles
Why Was Solana Chosen for the U.S. Cryptocurrency Strategic Reserve? What Is SOL's Future Outlook?
This article explores Solana's technical strengths, use cases, market performance, and future trends to provide a comprehensive understand SOL's potential and investment opportunities.TradingKey
15 minutes ago
1 Defensive Dividend Stock to Buy With Plenty of Fizz in a Volatile Market
TradingKey - If you’re feeling uneasy about the recent market turbulence, you’re not alone. Wall Street markets have cratered and are now currently in correction territory. Uncertainty is running high and it’s easy to see this selling getting worse before it gets better.TradingKey
27 minutes ago
An Overview of U.S. Government Shutdowns: Causes and Consequences
TradingKey - A government shutdown is a uniquely American political event. After former President Donald Trump orchestrated the longest and most costly government shutdown in history during his first term, the risk of another shutdown has resurfaced at the start of his second term.TradingKey
an hour ago
Adobe Q1 2025 Earnings Review: Core Business Resilient, but AI Integration Path Needs Clarification
TradingKey - Adobe's Q1 results confirmed the resilience of its core business, but Investors expect Adobe to clarify its long-term path of AI Integration. The market is worried that AI tools(such as Canva and MidJourney) are weakening Adobe's pricing power. It is recommended that investors should...TradingKey
2 hours ago
China's Conversation with Walmart: Are Retail CEOs Underestimating the Impact of Tariffs?
TradingKey - According to Bloomberg, this week Chinese authorities summoned Walmart officials due to the retailer pressuring some Chinese suppliers to lower prices in order to absorb the costs associated with U.S. tariffs.TradingKey
22 hours ago
